EDC vs. UDOW

Last updated Jun 9, 2026

EDC (Direxion Daily Emerging Markets Bull 3X Shares) and UDOW (ProShares UltraPro Dow30) are both Leveraged Equities funds - EDC tracks the MSCI Emerging Markets Index (300%) while UDOW tracks the Dow Jones Industrial Average (300%). Both are passively managed. Over the past 10 years, EDC returned 6.85%/yr vs 23.17%/yr for UDOW. A 0.66 correlation means they provide meaningful diversification when combined. EDC charges 1.33%/yr vs 0.95%/yr for UDOW.

Performance

EDC vs. UDOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Emerging Markets Bull 3X Shares (EDC) and ProShares UltraPro Dow30 (UDOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDC achieves a 48.75% return, which is significantly higher than UDOW's 12.32% return. Over the past 10 years, EDC has underperformed UDOW with an annualized return of 6.85%, while UDOW has yielded a comparatively higher 23.17% annualized return.

EDC

• 1D: 5.30%
• 1M: -13.15%
• YTD: 48.75%
• 6M: 54.72%
• 1Y: 130.29%
• 3Y*: 40.47%
• 5Y*: -3.49%
• 10Y*: 6.85%

UDOW

• 1D: -0.49%
• 1M: 6.85%
• YTD: 12.32%
• 6M: 13.87%
• 1Y: 50.92%
• 3Y*: 32.64%
• 5Y*: 13.37%
• 10Y*: 23.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EDC vs. UDOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDC Direxion Daily Emerging Markets Bull 3X Shares	48.75%	94.58%	-2.00%	7.48%	-60.25%	-20.81%	6.49%	43.92%	-49.87%	138.61%
UDOW ProShares UltraPro Dow30	12.32%	24.46%	28.47%	32.72%	-32.39%	65.67%	-17.15%	75.24%	-23.86%	99.07%

Correlation

The correlation between EDC and UDOW is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010	0.66

The correlation between EDC and UDOW shifts across timeframes, from 0.52 (3 years) to 0.66 (all time), reflecting how their relationship changes across market environments.

EDC vs. UDOW - Sectors Allocation Comparison

Sectors	EDC	UDOW
Technology	32.7%	17.1%
Financial Services	20.8%	27.2%
Consumer Cyclical	10.3%	11.6%
Communication Services	7.8%	1.9%
Industrials	7.3%	18.4%
Basic Materials	7.0%	4.0%
Energy	4.4%	2.4%
Consumer Defensive	3.2%	4.4%
Healthcare	3.2%	13.1%
Utilities	2.2%	-
Real Estate	1.1%	-

Return for Risk

EDC vs. UDOW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EDC

EDC Risk / Return Rank: 67
EDC Sharpe Ratio Rank: 71
EDC Sortino Ratio Rank: 55
EDC Omega Ratio Rank: 63
EDC Calmar Ratio Rank: 75
EDC Martin Ratio Rank: 71

UDOW

UDOW Risk / Return Rank: 43
UDOW Sharpe Ratio Rank: 44
UDOW Sortino Ratio Rank: 44
UDOW Omega Ratio Rank: 42
UDOW Calmar Ratio Rank: 41
UDOW Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EDC vs. UDOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bull 3X Shares (EDC) and ProShares UltraPro Dow30 (UDOW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EDC	UDOW	Difference
Sharpe ratio: Return per unit of total volatility	2.07	1.40	+0.67
Sortino ratio: Return per unit of downside risk	2.40	2.00	+0.39
Omega ratio: Gain probability vs. loss probability	1.35	1.24	+0.10
Calmar ratio: Return relative to maximum drawdown	3.45	1.82	+1.63
Martin ratio: Return relative to average drawdown	11.91	6.46	+5.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDC vs. UDOW - Sharpe Ratio Comparison

The current EDC Sharpe Ratio is 2.07, which is higher than the UDOW Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of EDC and UDOW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EDC	UDOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	1.40	+0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.30	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.45	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.53	-0.50

Drawdowns

EDC vs. UDOW - Drawdown Comparison

The maximum EDC drawdown since its inception was -92.54%, which is greater than UDOW's maximum drawdown of -80.29%. Use the drawdown chart below to compare losses from any high point for EDC and UDOW.

Drawdown Indicators

	EDC	UDOW	Difference
Max Drawdown Largest peak-to-trough decline	-92.54%	-80.29%	-12.25%
Max Drawdown (1Y) Largest decline over 1 year	-37.98%	-28.07%	-9.91%
Max Drawdown (3Y) Largest decline over 3 years	-49.48%	-44.83%	-4.65%
Max Drawdown (5Y) Largest decline over 5 years	-80.70%	-55.79%	-24.91%
Max Drawdown (10Y) Largest decline over 10 years	-87.01%	-80.29%	-6.72%
Current Drawdown Current decline from peak	-68.43%	-4.62%	-63.81%
Average Drawdown Average peak-to-trough decline	-65.36%	-14.38%	-50.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.98%	7.91%	+3.07%

Volatility

EDC vs. UDOW - Volatility Comparison

Direxion Daily Emerging Markets Bull 3X Shares (EDC) has a higher volatility of 32.98% compared to ProShares UltraPro Dow30 (UDOW) at 10.11%. This indicates that EDC's price experiences larger fluctuations and is considered to be riskier than UDOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDC	UDOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.98%	10.11%	+22.87%
Volatility (6M) Calculated over the trailing 6-month period	56.90%	28.22%	+28.68%
Volatility (1Y) Calculated over the trailing 1-year period	63.31%	36.61%	+26.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.41%	44.27%	+13.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.03%	51.81%	+9.22%

EDC vs. UDOW - Expense Ratio Comparison

EDC has a 1.33% expense ratio, which is higher than UDOW's 0.95% expense ratio.

Dividends

EDC vs. UDOW - Dividend Comparison

EDC's dividend yield for the trailing twelve months is around 1.15%, less than UDOW's 1.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDC Direxion Daily Emerging Markets Bull 3X Shares	1.15%	1.79%	3.94%	3.54%	0.00%	0.18%	0.44%	0.97%	0.78%	0.25%	0.00%	0.00%
UDOW ProShares UltraPro Dow30	1.21%	1.38%	0.95%	0.95%	0.83%	0.26%	0.19%	0.61%	0.73%	0.13%	0.26%	0.21%

Frequently Asked Questions

Can I hold both EDC and UDOW in my portfolio?

EDC and UDOW have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDC or UDOW?

EDC has higher volatility (32.98%) compared to UDOW (10.11%). In terms of maximum drawdown, EDC dropped -92.54% vs UDOW's -80.29%.

Which ETF is better, EDC or UDOW?

On 10-year performance, UDOW leads with 23.17% vs 6.85% for EDC. On fees, UDOW is cheaper at 0.95% per year. On volatility, UDOW has been the lower-risk option at 10.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDC or UDOW?

Over the 10-year period, UDOW has performed better with a 23.17% return vs 6.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDC or UDOW?

UDOW is cheaper with a 0.95% expense ratio, compared with 1.33% for EDC.

Which ETF pays a higher dividend yield, EDC or UDOW?

UDOW has the higher dividend yield at 1.21%, compared with 1.15% for EDC.

What is the main difference between EDC and UDOW?

EDC tracks MSCI Emerging Markets Index (300%), while UDOW tracks Dow Jones Industrial Average (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.33% for EDC and 0.95% for UDOW.

Which has better risk-adjusted returns?

EDC currently has the higher Sharpe Ratio (2.07 vs 1.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.